Atlas Wealth LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Atlas Wealth LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 699 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC purchased a new stake in GE Vernova during the 3rd quarter worth about $213,000. Empowered Funds LLC increased its position in GE Vernova by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock worth $1,110,000 after purchasing an additional 245 shares in the last quarter. Thrivent Financial for Lutherans increased its position in GE Vernova by 24.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock worth $4,311,000 after purchasing an additional 3,274 shares in the last quarter. Prospera Financial Services Inc increased its position in GE Vernova by 5.0% during the 3rd quarter. Prospera Financial Services Inc now owns 2,854 shares of the company’s stock worth $729,000 after purchasing an additional 135 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in GE Vernova by 3.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,423 shares of the company’s stock worth $618,000 after purchasing an additional 89 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. Royal Bank of Canada dropped their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday. BMO Capital Markets decreased their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target on the stock in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $334.21 on Friday. The company has a market cap of $92.21 billion and a P/E ratio of 60.11. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The business’s 50-day simple moving average is $352.15 and its 200 day simple moving average is $317.44.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.